Properties22

BEIJING: Property sales in China have soared by over 60 per cent so far this year, the government said yesterday, triggering fears of emerging asset bubbles. In the first seven months of the year, sales of all property were up 60.4 per cent from the same period a year ago, while housing sales increased by 65.3 per cent, the National Bureau of Statistics said in a statement on its website. “The real estate market has entered into a quite sensitive period now and bubbles have risen in some regions,” Qin Rui, an analyst with house agency 5j5j here, said. “In Beijing, house prices have far exceeded affordability for most residents,” he said. Property prices elsewhere in China picked up further in July, official figures also showed…. Click here to Read More

Several Chinese parties who are impressed with the Platinum Galaxy Boulevard project have approached Gee Teong AP Land Bhd’s adviser Tan Sri Low Yow Chuan looked every part of the old fashion towkay as he sat in a chair and watched customers file in to the Platinum Galaxy Boulevard showroom in Changshu, China. Resting his hands on his walking stick, the 74-year-old patriarch of the well known developer family was obviously pleased with the company’s latest venture as it was the realising of a dream he has had for quite sometime. “I wanted to come and develop in China for many years. In fact, I wanted to venture to my ancestral province of Xiamen but due to various problems it never took off. “Even for this project, we…. Click here to Read More